12th Jul 2021 08:41
(Alliance News) - Spectris PLC has completed the acquisition of computer systems and software provider Concurrent Real-Time for USD166.7 million in cash, it said on Monday.
The Egham, England-based precision instrumentation and controls supplier said the purchase was made from Battery Ventures, a Boston-based private equity firm.
The transaction is in line with Spectris' strategy to make synergistic acquisitions to enhance and grow its platform and potential platform businesses, it said. Concurrent-RT will now be integrated into the company's HBK subsidiary.
Concurrent Real-Time, based in Pompano Beach, Florida, describes itself as a developer of real-time operating systems for hardware-in-the-loop simulation applications, specialising in the aerospace, defence and automotive sectors.
Shares in Spectris were down 0.4% to 3,323.00 pence in London on Monday morning.
By Will Paige; [email protected]
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